Life in Japan

Opening a bank account in Japan

Yaaay team April 12, 2024
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This column is your essential guide to opening a bank account in Japan. You can learn  from requirements to necessary documents, as well as the importance of identity verification and the functionalities of your bank account.

Requirements for opening a bank account

If you've been in Japan for less than six months, you might qualify to open a non-resident bank account, but a general savings account won't be an option.
When it comes to opening a bank account in Japan, two main conditions must be met:
- Residency: You must have been living in Japan for at least six months for work or study purposes.
- Registration: You must be registered as a resident in Japan and be able to obtain a certificate of residence.

Meeting the first condition means you're considered a "resident" in Japan, indicating that you've stayed for more than six months. The second condition requires you to hold a visa (status of residence) allowing a stay of more than six months, enabling you to obtain a residence card. With a residence card, you can register as a resident in the municipality where you live and obtain a certificate of residence

Required items

In recent years, opening a bank account in Japan without the necessary documents has become increasingly challenging. You should contact your local bank ahead of time to confirm the required paperwork.

While specific requirements may vary, the following items are generally needed to open a bank account:

・Zairyu Card (Residence Card): Issued to foreigners staying in Japan for more than six months
・Passport: A valid passport with an expiration date
・Hanko (Name Seal): While some banks accept signatures, many still require a personal seal
・Proof of Residence: Documents like a lease agreement or utility bill showing your current address
・Certificate of Residence: Obtained by registering as a resident in your local municipality
・Employee ID Card: If unavailable, bring someone from your company to the financial institution

Financial institutions are mandated to prevent money laundering and terrorist financing, as per international standards and laws. It means that financial institutions have to verify the identity information of customers (e.g. the name, address, period of stay, status of residence, and employment status) at the time of opening an account without exceptions, and after opening an account if necessary. You may not be able to open an account or use your account if your identity information is not verified.

What you can do with your bank account

You can transfer money from your bank account to banks in almost all countries and regions.
・Your salary will be paid into your bank account from your employer
・Electricity, water, gas bills can be deducted from your bank account
・Rent, smartphone bill, and many other payments can be made automatically from your bank account

Check more information

You can get more information about opening bank account and sending money abroad from the website of the Financial Service Agency https://www.fsa.go.jp/en/

Reference: Living in Japan: How to open a bank account
https://www.fsa.go.jp/news/30/20190411/2.English.pdf

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